As one of Minnesota’s largest HMO’s, Medica
sought new headquarters space which reflected fiscal restraint
and yet created a desirable workplace. The optimal solution
had to be able to reflect the image of a large successful
organization, while at the same time demonstrate responsible
and prudent stewardship of its expenses.
As Medica’s chosen real estate provider, CresaPartners first helped identify both existing and suitable
new construction alternatives, then helped them thoroughly
analyze the options to arrive at the best solution.
Renovation of the current facility was also analyzed,
taking into consideration issues of timing, traffic
and budget, as well as corporate image. Ultimately,
it was decided Medica’s new home would be an existing
multi-tenant Class A building with top quality systems
and technology. Although the building was originally
a multi-tenant facility, due to Medica’s size,
it will be utilized as a single tenant building. CresaPartners also negotiated an expansion option on the
adjacent building to accommodate future growth. The
favorable lease terms also included renewal options,
termination options and a purchase option. As an added
incentive, the landlord relocated four existing tenants
and constructed a new parking ramp.
St. Cloud, Minnesota Regional Sales Office
Fargo, North Dakota Regional Sales Office
Disposition of Medica-owned property |
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